Welcome to the Tech Execs, where we discuss new and emergent technologies to help executives manage their organizations. In this episode, we discuss what it takes to create new service offerings. Whether your company creates products or custom solutions, both organizations can benefit by creating a new service offering.
In this episode we dive into the process of defining your organization’s potential service offerings. In addition we define the balance that a service offering can give your organization, as illustrated here:
Why create service offerings?
Service offerings are a sweet spot between being highly customized and highly standardized. They offering enough flexibility to satisfy an important market need while still allowing for resource scaling. In addition, here are three reasons how a service offering can help your organization:
- Creates alignment with your sales organization and strategic partnerships
- Increases staff efficiency and profitability with a more structured and predictable approach
- Increases your ability to scale your business
The Four Phases of creating a service offerings
- Identify what the market needs
- Deconstruct how you deliver similar offerings today to identify patterns and materials you can reuse
- Reconstruct into modularized offerings. Use the planning matrix listed below as a guide.
- Continual improvement
As mentioned in the show, here’s a document you can use to help develop your own service offering. Download the Service Offering Planning Matrix (xlsx file).
And in case you missed our pilot episode about Big Data, check it out here!
If you would like us to discuss a topic on The Tech Execs or have a question for us, please send an email to us at email@example.com or leave a comment below. We want to hear the tech management problems you are experiencing and give you guidance on how to solve those problem.
Eric Clark and Brian Schuster